Guideline Value for THONDAIMAN STREET (WARD -5)

Thondaiman Street (Ward -5) guideline value

The current guideline value of Thondaiman Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Thondaiman Street (Ward -5) has changed

The guideline value for Thondaiman Street has seen several revisions over the years. The 2012 revision recorded a value of Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,200 per sq.ft. The most recent revision in 2024 shows a further increase to Rs 1,321 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Thondaiman Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Thondaiman Street's 2024 figure above this median.

• Tholkoppiyar Street (N): Rs 1,321 per sq.ft (2024)
• Thriuvalluvar Street (Village Colony) (Kr): Rs 440 per sq.ft (2024)
• Thiyagarajar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Thiru. V.K. Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Thulukkanathamman Koil Street (Ward -18): Rs 660 per sq.ft (2024)
• Thiruvasagar Street (Ward -8): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Thondaiman Street (Ward -5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total to Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thondaiman Street (Ward -5)?

The Sub Registrar Office that covers Thondaiman Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ninna Karai

The guideline value is a crucial aspect when buying or selling property in Ninna Karai. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Thondaiman Street (Ward -5)?

The current guideline value of Thondaiman Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What are the other streets in Ninna Karai and their guideline values?

Other streets in Ninna Karai include Tholkoppiyar Street (N) at Rs 1,321 per sq.ft, Thriuvalluvar Street (Village Colony) (Kr) at Rs 440 per sq.ft, and several others with varying rates.

How is stamp duty calculated for properties in Thondaiman Street (Ward -5)?

Stamp duty for properties in Thondaiman Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property would incur a stamp duty of Rs 92,470 based on the current guideline value.

Where can I find the Sub Registrar Office for Thondaiman Street (Ward -5)?

The Sub Registrar Office for Thondaiman Street (Ward -5) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengleput Joint II SRO.